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>> yes. >> clearly the fiscal cliff is having effects on the economy. even though we are not yet even reaching the point of the fiscal cliff potentially kicking in, it is already affecting decisions by creating uncertainty or pessimism. we saw what happened recently to consumer sentiment which fell, presumably in part because of concerns about the fiscal cliff. so clearly, this is a major risk factor and major source of unsinnerty about the economy going forward. i would suspect and although, the par participants don't all make this complicit, but i would suspect what they are assuming in projections is that the fiscal cliff gets resolved, and some intermediate way whereby there is still some fiscal drag but not as much as implied bit entire fiscal cliff. i think that is probably the underlying assumption that most people took when they made their projection. but you are absolutely right, there is a lot of uncertainty right now. and if the fiscal cliff situation turns out to be resolved in a way very different from our expectations, i'm sure you would s
>> yes. >> clearly the fiscal cliff is having effects on the economy. even though we are not yet even reaching the point of the fiscal cliff potentially kicking in, it is already affecting decisions by creating uncertainty or pessimism. we saw what happened recently to consumer sentiment which fell, presumably in part because of concerns about the fiscal cliff. so clearly, this is a major risk factor and major source of unsinnerty about the economy going forward. i would suspect and...
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cliff. >>> and jpmorgan ceo, jamie dimon on the effect of the economy and fiscal cliff. stick around! >>> welcome back to "squawk b " box." the futures have been around 50, now 52 points. a look at the percentage move. not a lot. at least it is up and will be up for six straight days. you're very ingagnostic about a these things, overall we'd like prosperity to increase globally? >> absolutely. is that ever in doubt? with some places it is. >> in europe, does prosperity seem to be having a good century in europe? >> no. >> good decade? >> no. with the tail end of the feds 2-day interest meeting, feds are suspecting out-right asset purchases to replace "operation twist." has the fed run out of firepower. steve joins us on what to expect when we hear from them later on today. hey, steve. >> hi, michelle. the fed doesn't think it's run out of firepower although the market may have a different point of view. the big debate is how the fed replaces "operation twist." for background it's short term securities and buys long term securities in an effort to bring down long term in
cliff. >>> and jpmorgan ceo, jamie dimon on the effect of the economy and fiscal cliff. stick around! >>> welcome back to "squawk b " box." the futures have been around 50, now 52 points. a look at the percentage move. not a lot. at least it is up and will be up for six straight days. you're very ingagnostic about a these things, overall we'd like prosperity to increase globally? >> absolutely. is that ever in doubt? with some places it is. >> in...
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economy and that pending fiscal cliff. are we going to go over the fiscal cliff? >> you know, i remain optimistic that there are enough people of good will in this town that recognize our economy will be much better off, american families will be much better off, if we get this done. the most important thing we can do is make sure the middle class taxes do not go up january 1st and i'm pretty confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. >> reporter: prediction. are you going to be able to raise taxes? yes or no? >> oh, taxes are going to go up one way or the other. >> reporter: oh, they are? >> and i think the key is to make sure the taxes go up on high end individuals like you and me, barbara. we can afford it. it is entirely possible for us to come up with a deal. but time is running short. >> reporter: the president sounded optimistic about avoiding the fiscal cliff. he said, of his meeting with speaker boehner, "i think the tone was good. i believe both speaker boehner and myself a
economy and that pending fiscal cliff. are we going to go over the fiscal cliff? >> you know, i remain optimistic that there are enough people of good will in this town that recognize our economy will be much better off, american families will be much better off, if we get this done. the most important thing we can do is make sure the middle class taxes do not go up january 1st and i'm pretty confident that republicans would not hold middle class taxes hostage to try to protect tax cuts...
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but bernanke says the economy afeds more confidence now because of the uncertain fiscal cliff negotiations in unshington. and the harm from the fiscal cliff won't just happen in the enedre. bernanke said that's happening now. >> it's already affecting absiness investment and hiring decisions by creating uncertainty, or creating r:ssimism. ai saw what happened recently to consumer sentiment, which fell, tesumably in part because of concerns about the fiscal cliff. t reporter: the other main concern for the fed is inflation. but, scott, there's good news here. despite the trillions the fed eds pumped into economy, bernanke called the inflation tame, for now, projected 2%. elleelley: if the chairman of the fed is worried about the fiscal cliff there is nothing today that would have cheered ram up. a are less than two weeks away from the traditional prngressional holiday break, and noe republican speaker of the house and president obama seem no closer to a budget deal. as you know, if they don't come up with a spending compromise, most americans will see a hefty tax increase automatically on j
but bernanke says the economy afeds more confidence now because of the uncertain fiscal cliff negotiations in unshington. and the harm from the fiscal cliff won't just happen in the enedre. bernanke said that's happening now. >> it's already affecting absiness investment and hiring decisions by creating uncertainty, or creating r:ssimism. ai saw what happened recently to consumer sentiment, which fell, tesumably in part because of concerns about the fiscal cliff. t reporter: the other...
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when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> reporter: vice president biden was confident that this deal will get done because he's optimistic genetically. says if everyone can act like adults and can reach an agreement, the up side will be much greater than the down side. >> any indication when there might be a presidential meeting with the speaker? >> reporter: we don't know at all. there has been one phone call this week. white house aides saying so far they're not making announcements about meetings or phone calls. >> they need to meet to resolve this. maybe their teams and staffers could do some advance work but the clock is ticking. dan lothian, thank you. >>> president obama's top campaign strategist is here in a few minutes. david axelrod did something today he hasn't done in decades. look at that, before and after. he's ready to challenge a member of cnn's political team to do the same thing. stand by. >>> and take a look at this. we're going to tell you why the driver says she didn't stop ou
when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> reporter: vice president biden was confident that this deal will get done because he's optimistic genetically. says if everyone can act like adults and can reach an agreement, the up side will be much greater than the down side. >> any indication when there might be a presidential meeting with the speaker? >> reporter: we don't know at all. there...
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. >> obviously i think all of us and all americans a resolution of this issue of the fiscal cliff so that people can live next year with a sense of predictability, with a sense that we can have a growing economy, and, frankly, peace in the world. >> and the place on this committee? >> i think it would be fun to do. >> i'll take that as a yes. >> senator lieberman. >> christmas and hanukkah. >> yes. >> what would i like from the president? that he pick the leadership he's been empowered with the election, bring the parties together beginning with speaker boehner and other leaders agree on a bipartisan package that will reduce debt, increase tax and cut increases on spending entitlements. that will do it and usher in a brilliant new period in america's economic history. >> sounds good. senator graham. >> three things, that the president would have -- >> this i thought we only had one. >> this is america youan have three the president will leave a force in afghanistan of 15 to 20 thousand to make sure the place doesn't fall back in to radical hands. that the people get behind syria and
. >> obviously i think all of us and all americans a resolution of this issue of the fiscal cliff so that people can live next year with a sense of predictability, with a sense that we can have a growing economy, and, frankly, peace in the world. >> and the place on this committee? >> i think it would be fun to do. >> i'll take that as a yes. >> senator lieberman. >> christmas and hanukkah. >> yes. >> what would i like from the president? that he...
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the fiscal cliff deal is done, uncertainties are removed from the economy and we get 4% or 5% growth rates. maybe the fed's hand would be forced if you had a precipitous drop in the unemployment rate down to 5 1/2% or 6.5% but they're about to do something extraordinary here, right? next week they're going to announce this new thing and they're going to get rid of operation twist and they're going to replace it probably with outright purchases. and it could be that they're buying $85 billion a month in long-term securities. >> okay. where are they getting the money to buy that? >> they're making it. >> they're just printing it. >> not even printing it. you wouldn't have to print it today, it's an electronic thing. they're typing it essentially. >> will the resolution of the fiscal cliff and even some progress on our long-term problems, knowing that at best we're just putting off austerity, sooner or later it's coming, right? higher taxes and lower government spending, right? you combine that with reinhardt, rogoff and the idea we're in a 2% world all of a sudden, would doing the fisc
the fiscal cliff deal is done, uncertainties are removed from the economy and we get 4% or 5% growth rates. maybe the fed's hand would be forced if you had a precipitous drop in the unemployment rate down to 5 1/2% or 6.5% but they're about to do something extraordinary here, right? next week they're going to announce this new thing and they're going to get rid of operation twist and they're going to replace it probably with outright purchases. and it could be that they're buying $85 billion a...
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quantitative easing, the economy and the fiscal cliff. don't miss "squawk box" starting tomorrow at 6:00 a.m. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. >>> welcome back to "squawk box." this morning in the headlines, we're about an hour away from a flood of economic data. november retail sales, producer price index and weekly jobless claims set to hit the tape at 8:30 eastern. also jui
quantitative easing, the economy and the fiscal cliff. don't miss "squawk box" starting tomorrow at 6:00 a.m. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. you won't just find us online, you'll also find us in person, with dedicated support teams...
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the longer the white house slow walks this process, the closer our economy gets to the fiscal cliff. >> so obviously, republicans are trying to change the conversation from taxes to cuts. what do they want? >> well, they want entitlement reform and what we've seen is that the white house has moved a little bit. the president seems to be open to some form of entitlement reform, maybe not what john boehner wants, but they have said in the last couple of days that they will do corporate tax reform. so we are seeing some movement from the white house, but nothing yet from the house republicans. >> all right. john boehner just came to the microphone. he's just met with his caucus. let's see if he has anything new. >> -- the president's plan to avert the fiscal cliff still does not meet the two standards that i laid out the day after the election. his plan does not fulfill his promise to bring a balanced approach to solving this problem. it's mainly tax hikes. and his plan does not begin to solve our debt crisis. it actually increases spending. our plan meets these standards. it cuts spend
the longer the white house slow walks this process, the closer our economy gets to the fiscal cliff. >> so obviously, republicans are trying to change the conversation from taxes to cuts. what do they want? >> well, they want entitlement reform and what we've seen is that the white house has moved a little bit. the president seems to be open to some form of entitlement reform, maybe not what john boehner wants, but they have said in the last couple of days that they will do...
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when it comes to the fiscal cliff that is threatening our economy and threatening jobs, the white house has wasted another week. >> the house speaker had nothing of substance to say about this week's phone conversation with the president. >> the phone call was pleasant, but was just more of the same. the conversations that the staff had yesterday, just more of the same. it's time for the president if he's serious to come back to us with a counteroffer. >> boehner says the president is not being a helpful negotiator, even though the president apparently designed the negotiating sessions at boehner's request. according to "the new york times," boehner insisted the talks include only himself and the president of the united states. boehner wanted senate democrats and nancy pelosi out of the discussions. democratic senator dick durbin told the times this is now the speaker and the president working this through. democratic leaders say they are satisfied with the briefings that they continue to receive. nancy pelosi seems perfectly happy putting pressure on the republicans. >> why are we not
when it comes to the fiscal cliff that is threatening our economy and threatening jobs, the white house has wasted another week. >> the house speaker had nothing of substance to say about this week's phone conversation with the president. >> the phone call was pleasant, but was just more of the same. the conversations that the staff had yesterday, just more of the same. it's time for the president if he's serious to come back to us with a counteroffer. >> boehner says the...
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but democratic leader nancy pelosi says the problem goes beyond the fiscal cliff debate. >> our economy is moving forward, but it could be growing at a faster rate. the republican leadership had taken up and passed some of president obama's job initiatives including the american jobs act and had passed the middle income tax cut. >> so let's cut to the chase. one of those congressional members is lying. either the republicans are right on cutting taxes on small business also add jobs, or the president's stimulus policies are fuelling the economic recovery in this country. joining me tonight to sort out the facts, david cay johnston, pulitzer prize winning journalist and author of "the fine print. let's start with the job growth. unemployment hit rock bottom near the beginning of the -- under the bush administration. you can see this right here. and this of course the changing the color here is when president obama took over in january of '09. who is responsible for this turnaround? >> absolutely the president. and it would be a better turnaround if the republicans had allowed a bigger st
but democratic leader nancy pelosi says the problem goes beyond the fiscal cliff debate. >> our economy is moving forward, but it could be growing at a faster rate. the republican leadership had taken up and passed some of president obama's job initiatives including the american jobs act and had passed the middle income tax cut. >> so let's cut to the chase. one of those congressional members is lying. either the republicans are right on cutting taxes on small business also add...
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economy ndntinued to add jobs in november, despite worries about a looming fiscal cliff in washington and the effects of a k perstorm in the northeast. >> thank you very much. or reporter: at chobani, the greek yogurt maker based in new york, c.e.o. hamdi ulukaya has been hiring. how many employees do you have? >> close to 2,000. >> reporter: the turkish-born ulukaya started chobani just four years ago. since then, greek yogurt sales re g exploded. chobani is now nearly a billion- dollar business. >> think we're going to be over 5,000 to 6,000 people by five years. >> reporter: so another 3,000 or ll000. th yeah. >> reporter: nationally job f owth has been steady but slow. so far in 2012 the economy has added an average of 151,000 jobs a month. >> we are creating more jobs but the pace of that hasn't really thanged much in the last two years. >> reporter: this chief investment strategist with the the blackrock says the economy is caught in a circle. >> one reason the job market isn't better is consumers aren't spending and the reason consumers aren't spending is etcause the job market
economy ndntinued to add jobs in november, despite worries about a looming fiscal cliff in washington and the effects of a k perstorm in the northeast. >> thank you very much. or reporter: at chobani, the greek yogurt maker based in new york, c.e.o. hamdi ulukaya has been hiring. how many employees do you have? >> close to 2,000. >> reporter: the turkish-born ulukaya started chobani just four years ago. since then, greek yogurt sales re g exploded. chobani is now nearly a...
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we're going to have a fight on the fiscal cliff. another on the debt ceiling. it's destroying confident in the markets and what bothers me, larry, you know the subprime crisis hit like that. there was no warning. we could have another one like that. >> somebody has to control spending. i think the debt ceiling over a period of time is one way to do it. i'm sorry to you both. i have to get out of here. >> only roughly 800 billion apart. they can come together and solve it. >> i think the main tax -- >> for the good of the country. i'm probably not going to like the deal but that's probably what will happen. >> thank you so much. quick programming note. i will come to you life from our nation's capital tomorrow night as part of cnbc's special all day coverage. rise above, mission critical. now how do you like this scenario? the u.s. government using our tax money to build up an electric battery firm but after it fails the company sells out to a chinese outfit who takes advantage of our own taxpayer dollars. now producing for japan. there is something wrong with t
we're going to have a fight on the fiscal cliff. another on the debt ceiling. it's destroying confident in the markets and what bothers me, larry, you know the subprime crisis hit like that. there was no warning. we could have another one like that. >> somebody has to control spending. i think the debt ceiling over a period of time is one way to do it. i'm sorry to you both. i have to get out of here. >> only roughly 800 billion apart. they can come together and solve it. >> i...
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wall street says, of course, the fiscal cliff number one threat to the economy. so what are top economists saying if we don't reach a deal? exclusive results from our cnbc fed survey. >>> and the government cashes out of aig. what's next for the insurer and the ceo robert benmosche? >>> and a special surprise. a member of the rolls stones will be with us in studio today during "power." scott? >> wow. hard to top that, ty. see you in about ten minutes. >> you got us. you got the four of us versus one stone. >> all right. >> our ages don't add up to that one stone, actually, by the way. >> the dollar index is weakening today ahead of tomorrow's important fed decision. how will the fed's announcement impact the dollar? let's bring in paul richards of ubs with your money in motion trade. he joins us on the fast line. nice to talk to you again. >> how are you? >> good, thanks. talk to me first about euro/dollar. are you surprised where we sit right here giving the news we got yesterday? moti leaving early? berlusconi coming back maybe? >> i think the market is overrea
wall street says, of course, the fiscal cliff number one threat to the economy. so what are top economists saying if we don't reach a deal? exclusive results from our cnbc fed survey. >>> and the government cashes out of aig. what's next for the insurer and the ceo robert benmosche? >>> and a special surprise. a member of the rolls stones will be with us in studio today during "power." scott? >> wow. hard to top that, ty. see you in about ten minutes. >>...
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if we could start rid fiscal cliff and get confidence we could have hiring, which should be in the 2 or 3,000 range, stop messing around with this 100, 150,000 a month. >> as steve said, tomorrow is a big day on christina. the fed decision at 12:15 followed by complete coverage of bernanke's conference beginning at 2:00 p.m. eastern, which, by the way, is the start of "street signs." right, brian? >> yes. and that 2:15 special will be mosted by me. i would give steve liesman a high-five as we go by trains, i'm on the milk train for amtrak. we've got a rally today, there's a big lack of trust in the market. next, a new survey says 68% of people do not think stocks ar safe place for their money. ouch. >> housing could get hit hard, double ouch, if we go over that cliff. but could a deal hurt even more? if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink h
if we could start rid fiscal cliff and get confidence we could have hiring, which should be in the 2 or 3,000 range, stop messing around with this 100, 150,000 a month. >> as steve said, tomorrow is a big day on christina. the fed decision at 12:15 followed by complete coverage of bernanke's conference beginning at 2:00 p.m. eastern, which, by the way, is the start of "street signs." right, brian? >> yes. and that 2:15 special will be mosted by me. i would give steve...
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about the fiscal cliff that's coming up. and the report also showed that if we go over the cliff, meaning if we just go over it in the first few days of next year, that we could have a 13% cumulative contraction in the gdp between now and 2015. and 6 million jobs lost. now, a lot of those will come from small and medium sized manufacturers who just aren't willing to take the risk, but i think you're talking to doug in a little bit and larger companies like caterpillar and doug is the incoming chair of the national association of manufacturers, companies like caterpillar rely on those supply chains. so they want to make sure that the small and medium sized manufacturers are just as healthy as the larger. >> jay, thank you. we appreciate your time this morning. >>> coming up, police arresting john mcafee. the details next. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee
about the fiscal cliff that's coming up. and the report also showed that if we go over the cliff, meaning if we just go over it in the first few days of next year, that we could have a 13% cumulative contraction in the gdp between now and 2015. and 6 million jobs lost. now, a lot of those will come from small and medium sized manufacturers who just aren't willing to take the risk, but i think you're talking to doug in a little bit and larger companies like caterpillar and doug is the incoming...
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over the fiscal cliff, and around the capitol there's largely the sound of silence as the white house and congress try to work out a deal behind closed doors. the president has no public events on his schedule. and all through the house, not a creature was stirring except, that is, for john boehner, who emerged to gavel the house into session this afternoon after a week's recess with his trademark holiday cheer. >> washington has a spending problem. now, the president doesn't agree with our approach. he's got an obligation to put forward a plan that can pass both chambers of the congress because right now the american people have to be scratching their heads and wondering when is the president going to get serious? >> i'm sorry, i meant his trademark ba ham bug which he's been doling out by the sleigh load. >> there's a stalemate. let's not kid ourselves. we have a debt problem that is out of control. we've got to cut spending. washington has got a spending problem. just more of the same. >> more of the same indeed. and as minority leader nancy pelosi today declared with americans mak
over the fiscal cliff, and around the capitol there's largely the sound of silence as the white house and congress try to work out a deal behind closed doors. the president has no public events on his schedule. and all through the house, not a creature was stirring except, that is, for john boehner, who emerged to gavel the house into session this afternoon after a week's recess with his trademark holiday cheer. >> washington has a spending problem. now, the president doesn't agree with...
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investing, the economy and the looming fiscal cliff. jpmorgan chairman ceo jamie dimon. carlyle group cofounder david rubenstein and a lot more. and it all starts tomorrow at 6:00 a.m. eastern on "squawk box." [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to squawk. happy monday. today in the "wall street journal" suggesting netflix could end up doomed with its success with children. netflix just for kids get more popular. companies like viacom get accurate. companies provide netflix with most of its content in a kids' focused section. the journal says at so
investing, the economy and the looming fiscal cliff. jpmorgan chairman ceo jamie dimon. carlyle group cofounder david rubenstein and a lot more. and it all starts tomorrow at 6:00 a.m. eastern on "squawk box." [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of...
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the markets will respond badly if we go over the fiscal cliff. foreign investors will respond badly if america goes over the fiscal cliff at the end of this year. there's a sense, i'm hearing, increasing pessimism among republicans that say we can't afford to have these kinds of talks, even the stalling process doesn't look good for the country. >> there's other incentives that are bringing both republicans, especially the white house, to the table with respect to the fiscal cliff. we did reporting on this. >> your bosom buddy. >> yeah, but there's stimulus the white house wants as a result of the fiscal cliff deal. they don't want to see a lapse, for instance, in the payroll tax cut. although they'd be fine with it being replaced by something else. unemployment insurance passed, infrastructure spending, those are incentives for the white house to cut a deal on the fiscal cliff as opposed to just going over it and saying, okay, we'll just take the, you know, sequester cuts and bush tax rates. >> that's right, and they were willing to do that in 2
the markets will respond badly if we go over the fiscal cliff. foreign investors will respond badly if america goes over the fiscal cliff at the end of this year. there's a sense, i'm hearing, increasing pessimism among republicans that say we can't afford to have these kinds of talks, even the stalling process doesn't look good for the country. >> there's other incentives that are bringing both republicans, especially the white house, to the table with respect to the fiscal cliff. we did...
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when it comes to the fiscal cliff that is threatening our economy and jobs the white house has wastde another week. secretary gitener came here to offer a plan that had twice the tax hikes that the president campaigned on and had more stimulus spending thanned the in cuts. and an indefinite increase in the debt limit like for ever. now four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there has been no count offer from the white house. instead reports indicate that the president has adopted a deliberate stradgeji to slow walk our economy right to the edge of the fiscal cliff. instead of reforming the tax code and cutting spending, the president wants to raise tax rates. but even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion dollar deficits for as far as the eye can see. washington has got a spending problem, not a revenue problem. if the president doesn't agree with our proposal, i believe he's got an obligation to families and small businesses to offer a pl
when it comes to the fiscal cliff that is threatening our economy and jobs the white house has wastde another week. secretary gitener came here to offer a plan that had twice the tax hikes that the president campaigned on and had more stimulus spending thanned the in cuts. and an indefinite increase in the debt limit like for ever. now four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there has been no count offer from the...
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first, forget the fiscal cliff, because the economy is coming back. americans are feeling more optimistic about 2013 and if we play our cards right, we're going to see a new economic renaissance. td ameritrade recently surveyed folks on their outlook for the new year. 43% say they're downright optimistic about the economy and believe we're headed for a rebound. 45% are feeling good about their own finances, but we already know that things are starting to get better. look, we're adding jobs every month, consumer debt continues to shrink. stock markets are up. longer term, though. america will reap the rewards of its domestic energy boom and more oil and gas gets extracted. the drop in the price of natural gas is already helping utilities and factories compete. that's creating more american jobs. and there is more. housing will be the golden lining to the economic cloud that is hanging over this country. mortgage rates are at historic low and should stay that way for the next two years but home prices have seen their bottom and are heading back up. when
first, forget the fiscal cliff, because the economy is coming back. americans are feeling more optimistic about 2013 and if we play our cards right, we're going to see a new economic renaissance. td ameritrade recently surveyed folks on their outlook for the new year. 43% say they're downright optimistic about the economy and believe we're headed for a rebound. 45% are feeling good about their own finances, but we already know that things are starting to get better. look, we're adding jobs...
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Dec 10, 2012
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cliff. republicans want a melt on xwiemtment and tax reform from the president. democrats insist this will not happen until the gop agrees on a tax hike. senator dick durbin saying no deal on the debt without a tax hike of the wealthy. >> i can't tell you, i don't want to do it, the president doesn't want to do it, but we need to solve the problem been we cannot allow the reckless position to drive this economy into another recession. >> some suggesting that it might be better to cave to the president now on taxes and keep up the fight on spending. >> if we were to pass, for instance, raising the top two rate and that's it, all of a sudden we do have the leverage of the debt ceiling and we haven't given that up. >> meantime, one influential voice says enough is enough. >> that's like betting your country. there's something terribly bizarre and juvenile about that is to think your party comes ahead of your country. i don't go for that at all. >> that, of course, was alan simpson, the other ha
cliff. republicans want a melt on xwiemtment and tax reform from the president. democrats insist this will not happen until the gop agrees on a tax hike. senator dick durbin saying no deal on the debt without a tax hike of the wealthy. >> i can't tell you, i don't want to do it, the president doesn't want to do it, but we need to solve the problem been we cannot allow the reckless position to drive this economy into another recession. >> some suggesting that it might be better to...
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Dec 12, 2012
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the longer the white house slow walks this process, the slowser our economy gets to the fiscal cliff. >> that slow walk comment specifically was in response to that counteroffer. here's what the white house press secretary responded to boehner. >> it's not a mystery. we have seen this before. this is the document that contains the specific spending cuts. the speaker of the house sent us a proposal that was two pages long. >> yesterday afternoon after all of that back and forth, republicans delivered a formal counteroffer. it was virtually identical to the proposal the president rejected a week ago, but with more detail. the congressional liaison met with boehner's top aide and last night he called boehner himself all to make sure they didn't start trashing each other's proposal. the white house is on the cautiously optimistic side. the house republicans are on the cautiously pessimistic side. they will get a deal and boehner's strong statement on the house floor was for effect for his own problem. they didn't want to make major concessions or counteroffers until boehner admits publicl
the longer the white house slow walks this process, the slowser our economy gets to the fiscal cliff. >> that slow walk comment specifically was in response to that counteroffer. here's what the white house press secretary responded to boehner. >> it's not a mystery. we have seen this before. this is the document that contains the specific spending cuts. the speaker of the house sent us a proposal that was two pages long. >> yesterday afternoon after all of that back and...
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the longer the white house slow-walks this process, the closer our economy gets to the fiscal cliff. >> nobody should trust democrats to put a dime until real deficit reductions. >> reporter: to better understand the gop positioning, remember what any reduction deficit looks like drawn from two different pots of money. first, tax revenue. second, spending cuts likely to center on changes to entitlements like medicare. on revenues, republicans already conceded to tax increases for the wealthy. the big sticking point is what kind and how much. since that is angering many on the right who oppose any tax increases, republicans want democrats to take the heat for entitlement cuts by proposing them first so republicans don't face the wrath of seniors, too. remember this 2011 ad depicting paul ryan throwing granny off the cliff? the white house says it's republicans who haven't offered specifics and the president has. >> very specific spending cuts, including savings in entitlement programs. again, i -- it's not a mystery. we've seen this before. this is the document. >> reporter: that docu
the longer the white house slow-walks this process, the closer our economy gets to the fiscal cliff. >> nobody should trust democrats to put a dime until real deficit reductions. >> reporter: to better understand the gop positioning, remember what any reduction deficit looks like drawn from two different pots of money. first, tax revenue. second, spending cuts likely to center on changes to entitlements like medicare. on revenues, republicans already conceded to tax increases for...
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Dec 10, 2012
12/12
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we want to keep that in mind as we head towards the fiscal cliff. only four in 10 americans expect the white house and congress to reach a deal on the cliff before the first of the year, and if this goes south, a 53% of the american people are prepared to blame republicans. the president's job approval rating is well over 50%. congress' approval rating is under 20%. why what a the president back down? >> the president isn't interested in a balanced agreement, not particularly interested in avoiding a fiscal cliff, and clearly not been tested at all in cutting and spending. >> the senate minority leader says that what the president is interested in is getting as much taxpayer money has he can so that he can spend to his heart's content. with his approval ratings going up and congress' numbers at historic lows and the unemployment rate dropping, why with the president back down? charles? >> to some extent he is under estimating the damage she will suffer if -- he suffer if we go over the cliff. it will hurt the republicans in congress, which is why de
we want to keep that in mind as we head towards the fiscal cliff. only four in 10 americans expect the white house and congress to reach a deal on the cliff before the first of the year, and if this goes south, a 53% of the american people are prepared to blame republicans. the president's job approval rating is well over 50%. congress' approval rating is under 20%. why what a the president back down? >> the president isn't interested in a balanced agreement, not particularly interested...
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he said, no, it's a fiscal can cliff because the economy will hit a brick wall if there is not a deal in january. he says it is not hype. >> he's basically saying if we go over the fiscal cliff, if these lawmakers and white house doesn't make a deal, it could lead to a recession? >> that >> reporter: that's right. we could hit another recession if we go over the fiscal cliff. >>> shoppers that dive for cover as a gunman opens for cover in an oregon mall. we're going to give you the latest details, including the newly released identity of the man. >>> internet pioneer john mcafee is on his way back to the united states. kate bolduan is monitoring that story and others. >> guatemala officials escorted him to the airport and he boarded the plane to miami after a deportation order from guatemala. he is wanted for questioning in belize over the death of a neighbor. we've been following his story pretty closely. mcafee was held in guatemala for a week. he made his fortune from the anti-virus software that bears his name. >>> also, jacob tyler roberts was the lone gunman in the shooting at t
he said, no, it's a fiscal can cliff because the economy will hit a brick wall if there is not a deal in january. he says it is not hype. >> he's basically saying if we go over the fiscal cliff, if these lawmakers and white house doesn't make a deal, it could lead to a recession? >> that >> reporter: that's right. we could hit another recession if we go over the fiscal cliff. >>> shoppers that dive for cover as a gunman opens for cover in an oregon mall. we're going...
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Dec 8, 2012
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. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> reporter: this morning in his weekly address, president obama is holding a hard line on raising rates for the wealthy. >> and if we're serious about protecting middle class families, then we're also go to have to ask the wealthiest americans to pay higher tax rates. that's one principle i won't compromise on. >> reporter: but how much higher could be the key to compromise. the top tax rate is set to rise from 35 to 39.6% on january 1st. when asked if a middle ground could be found, both boehner and bide enshowed wiggle room. >> the top brackets have to go up. this is not a negotiatiable issue. theoretically we could negotiate how far up. >> at a local restaurant, the owner has seen enough of washington gridlock. >> i wish those lawmakers would get their acts together and get it done and try to help everybody. it would be good if they could do it before the holidays are over. >> reporter: she said it, alex. now john boehner after that comment yesterday
. >> when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> reporter: this morning in his weekly address, president obama is holding a hard line on raising rates for the wealthy. >> and if we're serious about protecting middle class families, then we're also go to have to ask the wealthiest americans to pay higher tax rates. that's one principle i won't compromise on. >> reporter: but how much...
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Dec 13, 2012
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executive chairman william lauder gives us his read on holiday sales, the economy and of course the fiscal cliff gridlock. he's next up on "halftime." >>> "fast money" isn't just about a bull market. it could be going up, down or sideways. >> in the blink of an eye, everything changes. you've got to be able to surround the trade. >> we're all doing what we do for a living, and we're all together as a team. but we all come at it from a different perspective. >> it's all about moving the odds into your favor. >> it's really what drives up the value of the show. >> i am jon nagarian. i am "fast money." >> i'm stephanie. i am "fast money." >> i am steve grasso. i am "fast money." ss? at fidelity, we do it by merging two tools into one, combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 2
executive chairman william lauder gives us his read on holiday sales, the economy and of course the fiscal cliff gridlock. he's next up on "halftime." >>> "fast money" isn't just about a bull market. it could be going up, down or sideways. >> in the blink of an eye, everything changes. you've got to be able to surround the trade. >> we're all doing what we do for a living, and we're all together as a team. but we all come at it from a different...
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Dec 7, 2012
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fiscal cliff negotiations, they're really focused on fixing the debt. how can you fix the debt if you can't fix the economy? if you can't fix the jobs situation? >> oh, boy, this is the magic question this is why people like paulfreaking out and going, wait a minute, we go over the fiscal cliff, it is austerity, it is bad for job creation and that could be a problem. the bigger issue i think in the long-term unemployment problem is we never really dealt with it from the beginning of the jobs crisis. so 12 million people out of work, 40% of them, more than six months, that's insane. but we have not had a real program to get those long-term unemployed back to work. and, you know, frankly, i don't see anything happening in the future. as we look at that fiscal cliff, what does that really do? it says government is going to spend less money, less money means less job training, less ways to get the unemployed back to work. that really says that we're probably going to be stuck with an unemployment problem for a long time. >> so avoiding a fiscal cliff doesn'
fiscal cliff negotiations, they're really focused on fixing the debt. how can you fix the debt if you can't fix the economy? if you can't fix the jobs situation? >> oh, boy, this is the magic question this is why people like paulfreaking out and going, wait a minute, we go over the fiscal cliff, it is austerity, it is bad for job creation and that could be a problem. the bigger issue i think in the long-term unemployment problem is we never really dealt with it from the beginning of the...
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Dec 9, 2012
12/12
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. >> experts say the fiscal cliff could play grinch to the u.s. economy during the holiday shopping season. in a recent survey, the national retail federation found about 2/3 of shoppers said the fiscal cliff and other economic concerns would affect their holiday spending. the fiscal cliff will result in tax increases and federal spenng cuts. >> both parties are kind of, hey, i'm going to do my thing, you're going to do your thing, nobody seems to want to give in. >> many shoppers agree, as tax paying citizens, one of the top things on their wish list for christmas is for the president and congress to compromise and to get a deal done. >> please start working together and remember the people who put you in office. >> nadia ramdass, wbal-tv 11 news. >> jews around the world celebrated the beginning of hanukkah saturday night. in chicago, hundreds gathered to watch the lighting of an overicized menorah. hanukkah commemorates the jewish uprising in the second century b.c. according to tradition, when the jews dedicated the temple in jerusalem, a sing
. >> experts say the fiscal cliff could play grinch to the u.s. economy during the holiday shopping season. in a recent survey, the national retail federation found about 2/3 of shoppers said the fiscal cliff and other economic concerns would affect their holiday spending. the fiscal cliff will result in tax increases and federal spenng cuts. >> both parties are kind of, hey, i'm going to do my thing, you're going to do your thing, nobody seems to want to give in. >> many...
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Dec 9, 2012
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that is the model for this fiscal cliff discussion, making both the cuts and the reforms that are real and credible and politically difficult to reverse. that is the only signal we can send. it is the right signal to send to investors that we're serious about getting our financial house in order. chairman, thank you. this is your last committee meeting and you will be missed. >> going back to the analogy of the avalanche, when we had the subprime crisis, and there was no warning. likewise, we did have the same type of avalanche come tomorrow. there is no more confidence, nobody buys are debt. we would have increased interest rates and huge economic problem. we have two things in front of us. not only the fiscal slope, but also the debt ceiling. treasury estimates at the end -- we have until the end of february. in solving it, would be better to put the debt ceiling in the package with the fiscal slope for a comprehensive solution? or would it be better to do them separately? >> they should be done together. this will not work if we break this thing apart. we need to scale back the clif
that is the model for this fiscal cliff discussion, making both the cuts and the reforms that are real and credible and politically difficult to reverse. that is the only signal we can send. it is the right signal to send to investors that we're serious about getting our financial house in order. chairman, thank you. this is your last committee meeting and you will be missed. >> going back to the analogy of the avalanche, when we had the subprime crisis, and there was no warning....
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you've got the fiscal cliff. you have immigration, health care. the economy, jobs, getting in the midst of an issue that is still fairly contentious for a significant number of americans, i think poses some political risk. my guess is where this ends up going is, the administration probably doesn't talk about it and probably doesn't go out of its way to enforce it. and i guess we'll wait and see what we actually do. >> young voters, joe watkins, young voters, no surprise here. according to the new republic, a polling that shows quote an impressive 65 to 70% of voters under the age of 30 supporting marijuana legalization. nationwide, this wasn't a study that was conducted in one state or a particular region. joe, does this issue now present the republican party, with a huge opportunity to gain the support of younger voters? >> i would hope, craig, that we would challenge younger voters to look to their better agnels. obviously the recreational use of marijuana is not the central issue that the republican party or any party would want to use to attr
you've got the fiscal cliff. you have immigration, health care. the economy, jobs, getting in the midst of an issue that is still fairly contentious for a significant number of americans, i think poses some political risk. my guess is where this ends up going is, the administration probably doesn't talk about it and probably doesn't go out of its way to enforce it. and i guess we'll wait and see what we actually do. >> young voters, joe watkins, young voters, no surprise here. according...
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the fiscal cliff was created by politicians who lack the courage to do the best for the american people. and already has done severe damage to the economy. now we have democrats who want to suck money out of the economy in tax and we have rhino republicans in name only who wants spending cuts. both those things will do damag% to the economy and any compromise will damage the economy and push it further into deep recession. neither side discusses the real problem which is the enormous costs of big government. cost in money and regulations and intrusion. neither side discusses that because they are career politicians and big government is their career. dennis: what should republicans do? should they cave and let tax rates go up on the rich or hold out and let the company -- the country go over the cliff? >> they hold out and let the country go over the cliff and aasolutely insure this lending limit, borrowing limit is enforced. to force government to shrink itself. this is the only way they will do that in my opinion, to have strict term limits for politicians in the future, single term l
the fiscal cliff was created by politicians who lack the courage to do the best for the american people. and already has done severe damage to the economy. now we have democrats who want to suck money out of the economy in tax and we have rhino republicans in name only who wants spending cuts. both those things will do damag% to the economy and any compromise will damage the economy and push it further into deep recession. neither side discusses the real problem which is the enormous costs of...
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Dec 12, 2012
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. >> the longer the white house ze slow walks this process the closer our economy gets to the fiscal cliff. >> reporter: mr. obama's new proposal lowered his request for tax revenue from $1.6 trillion in ten years to $1.4 trillion.trillion on tuesday the white house threw corporate tax reform into the mix, adding it to the already agreed upon push next year for reform of individual tax rates.dismisse boehner's described it as unrealistic and said the tax revenue was "a red herring." the top senate democrat doubted a fiscal cliff deal would be l cli wrapped in time for christmas. >> i think it's going to be extremely difficult to get it done before christmas. >> reporter: speaker boehner is meeting at this hour with house republicans. despite all the gloom the president said he remains confident a fiscal cliff deal will get done. charlie and norah? >> major garrett thank you. nancy pelosi leads the democratseads in the house of representatives. we're pleased to have her with this m us.good good morning. >> good morning. >> where are these negotiations? when they were bargaining over t
. >> the longer the white house ze slow walks this process the closer our economy gets to the fiscal cliff. >> reporter: mr. obama's new proposal lowered his request for tax revenue from $1.6 trillion in ten years to $1.4 trillion.trillion on tuesday the white house threw corporate tax reform into the mix, adding it to the already agreed upon push next year for reform of individual tax rates.dismisse boehner's described it as unrealistic and said the tax revenue was "a red...
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cliff. it would be an incredible lift, i think, to confidence in the markets. >> so with raising revenue also comes along with that what the right would like to see, you know, in terms of raising revenue to the spending cuts and president obama says he is flexible on entitlement reform in the past we have heard he might be open to raising the medicare eligibility age even possibly reducing cost of living increases for social security benefits, where do you stand on this, assuming that republicans let go of tax cuts for the wealthy? >> well, i think we need to do both. i've said we need to raise revenues, we also need to reduce spending. we started this debate after the simpson-bowles commission came in with the recommendations, we've already done $1 trillion in spending cuts on the discretionary side. we need the revenues and additional savings. we understand that. i think the easiest next step is let's pass the bill that's in the house, that gives confidence and a good deal of the revenues
cliff. it would be an incredible lift, i think, to confidence in the markets. >> so with raising revenue also comes along with that what the right would like to see, you know, in terms of raising revenue to the spending cuts and president obama says he is flexible on entitlement reform in the past we have heard he might be open to raising the medicare eligibility age even possibly reducing cost of living increases for social security benefits, where do you stand on this, assuming that...
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the thing that's depressing about the fiscal cliff plan, we will change the tax code, change this, a tax on gas to help the energy industry, all this stuff has receded into the mist and all we're trying to do is get a deal and be done with this. it is sad. in the beginning of a second term, you should be trying to do big things. >> politics often gets in the way. these guys agree behind closed doors what should be done but nobody wants to step out on the ledge and say it publicly. >> right. you have a polarized congress. at this point, both sides think the other side is not on the level and they're interested in taking the partisan political position than accomplishing a bipartisan result. the good thing is high skilled immigrants. hard not to find someone on both sides that don't think you should allow folks that have expertise in science and technology into the country. instead of doing it, both sides use it as a lever in the immigration debate and keeps getting spooled up inside that debate and nothing gets done. >> haven't the republicans been passing it through the house and dem
the thing that's depressing about the fiscal cliff plan, we will change the tax code, change this, a tax on gas to help the energy industry, all this stuff has receded into the mist and all we're trying to do is get a deal and be done with this. it is sad. in the beginning of a second term, you should be trying to do big things. >> politics often gets in the way. these guys agree behind closed doors what should be done but nobody wants to step out on the ledge and say it publicly....
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>> merry fiscal cliff-mas to you. you're going to see more bouncing like a yo yo, on the fundamental story, the models we have pointing going into 1q, the reason, it sort of rhymes in the spirit of the season. you have non-opec demand growing, global demand slowing, it's not snowing, and down is where we're going. the next big data point is probably the iaea report in february. and if that implicates more progress toward an iranian bomb, there's significant risk to look to the upside. in the meantime, you have a lot of other issues beyond the fiscal cliff. debt ceiling issues, if not resolved in the negotiation looming. and relatively long stocks here in the u.s. perhaps the most interesting part, becky, is to look at the convergence between light and heavy grades here in north america. we have a lot of light oil. and we're actually potentially short of heavy oil. so seeing convergence within that downward trend means there could be a bid for heavier. >> you would guess that would certainly hurt demand. >> sure. offse
>> merry fiscal cliff-mas to you. you're going to see more bouncing like a yo yo, on the fundamental story, the models we have pointing going into 1q, the reason, it sort of rhymes in the spirit of the season. you have non-opec demand growing, global demand slowing, it's not snowing, and down is where we're going. the next big data point is probably the iaea report in february. and if that implicates more progress toward an iranian bomb, there's significant risk to look to the upside. in...
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in front of them and hear all this fighting in washington about the fiscal cliff. you've been looking for a job for more than six months now. are you more optimistic or less than things will turn around next year? >> i believe it's going to turn around. it will probably take a little time, but i think it will. >> you need the government to help now until that happens? >> yes, i definitely do. >> you just had a baby. congratulations. >> thank you. >> are you concerned about your kid's future in all of this? >> i am. i mean, my biggest concern is that i leave my son with more burdens. i want him to have as many opportunities as he can to be successful in the future, and my concern is that, you know, he's going to be burdened by the entitlements that we're leaving him due to the older generations. i want to make sure he has a clean slate and he's a successful citizen and can do as much as he can. i'm worried. i think america needs to address this entitlement issue. for my son i would be willing to postpone when i receive my entitlements. >> your sacrifice would be you
in front of them and hear all this fighting in washington about the fiscal cliff. you've been looking for a job for more than six months now. are you more optimistic or less than things will turn around next year? >> i believe it's going to turn around. it will probably take a little time, but i think it will. >> you need the government to help now until that happens? >> yes, i definitely do. >> you just had a baby. congratulations. >> thank you. >> are you...
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a joint economic committee hearing on the fiscal cliff. and shaun donovan discusses. ? morning, the national journal on the u.s. economy and a poll on the middle class. live coverage begins at 8:30 a.m. eastern on c-span 2. in the senate today, harry reid and mitch mcconnell went back and forth on fiscal cliff issues. there is part of their exchange. >> yesterday afternoon, i came to the floor and offered president obama's proposal on the fiscal cliff to show that neither he nor democrats in congress are acting in good faith in these negotiations. with just a few weeks ago before a potentially entirely avoidable blow to the economy, the president proposed a plan the members of his own party will even vote for. he is not interested in a balanced agreement, not particularly interested in avoiding the fiscal cliff, and clearly not interested at all in cutting any spending. with the president is really in, as we learned just yesterday, is getting as much taxpayer money as he can, first by raising taxes on small businesses who he believes are making too much money, and then
a joint economic committee hearing on the fiscal cliff. and shaun donovan discusses. ? morning, the national journal on the u.s. economy and a poll on the middle class. live coverage begins at 8:30 a.m. eastern on c-span 2. in the senate today, harry reid and mitch mcconnell went back and forth on fiscal cliff issues. there is part of their exchange. >> yesterday afternoon, i came to the floor and offered president obama's proposal on the fiscal cliff to show that neither he nor democrats...
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the other day, we were talking about the fiscal cliff. and you tell us it will be really, really bad. why does the market keep going up? >> everyone thinks they will fix it. in the market, the question, what will the top rate be for the highest earners. 37%? the market says there will be a deal and lower corporate tax rates. if there isn't a deal, after the first of the year, a big stock market sell-off. >> we'll talk about the 20 days left to the fiscal cliff, straight ahead. >>> still ahead, a prominent republican now officially a democrat. we'll take a closer look at why former florida governor charlie crist left the gop behind. he'll join us to talk about that. >>> and the hit reality show "storage wars," by the way, i love that show. is it fake? what one star is saying. say it ain't so. that in a moment. mmmm. [ female announcer ] make new traditions with pillsbury grands! cinnamon rolls. [ sniffs ] i took dayquil but my nose is still runny. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-selt
the other day, we were talking about the fiscal cliff. and you tell us it will be really, really bad. why does the market keep going up? >> everyone thinks they will fix it. in the market, the question, what will the top rate be for the highest earners. 37%? the market says there will be a deal and lower corporate tax rates. if there isn't a deal, after the first of the year, a big stock market sell-off. >> we'll talk about the 20 days left to the fiscal cliff, straight ahead....
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the jobs report comes on the heels of the ongoing fiscal cliff debate. economists estimate 200,000 fewer jobs have been created this year due to uncertainty over the fiscal cliff. aides to president obama and speaker boehner met yesterday afternoon, but that meeting ended with no signs of progress. stay with abc7 morning news, 6:30 the opening bell live from the new york stock exchange. 6:45 live to jane king for an update. >>> in a few hours pearl harbor survivors as well as military and coast guard veterans will place a wreath in alameda to mark the 71st anniversary of the japanese attack on the pearl harbor base in hawaii. it will be followed by a 20 within gun salute. more than 2400 americans died when the japanese bombed pearl harbor in a surprise attack december 7th, 1941. the attack helped usher the u.s. into world war ii. 3:45 in afternoon sons and daughters of survivors will attend the 48th annual beacon lighting in honor of pearl harbor day. >>> the iphone is likely coming to t-mobile in the new year, the company says it will add apple products
the jobs report comes on the heels of the ongoing fiscal cliff debate. economists estimate 200,000 fewer jobs have been created this year due to uncertainty over the fiscal cliff. aides to president obama and speaker boehner met yesterday afternoon, but that meeting ended with no signs of progress. stay with abc7 morning news, 6:30 the opening bell live from the new york stock exchange. 6:45 live to jane king for an update. >>> in a few hours pearl harbor survivors as well as military...
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going off the fiscal cliff could cause a major damage to our economy. if we take no action by january 1, as i'm sure most people are now aware, tax rates will go back for all taxpayers to the pre-bush tax rates. the alternative minimum tax that shields tens of millions of americans from paying extra income taxes will expire and millions of americans will be subject to extra taxes. the unemployment insurance program will come, the extended benefit program will come to a halt, the payroll tax holiday will end and individuals' take-home pay will be reduced. we have a serious problem on medicare reimbursement to our physicians. they would be subjected to a significant cut, close to 30% which would have an impact on seniors and our disabled population having access to physician care. and we would go through what's known as sequestration which is across-the-board cuts to almost all federal programs ranging from 8% to about 10% across the board cuts. that would have a major impact on our entire country. we've looked at the numbers in maryland and could be as m
going off the fiscal cliff could cause a major damage to our economy. if we take no action by january 1, as i'm sure most people are now aware, tax rates will go back for all taxpayers to the pre-bush tax rates. the alternative minimum tax that shields tens of millions of americans from paying extra income taxes will expire and millions of americans will be subject to extra taxes. the unemployment insurance program will come, the extended benefit program will come to a halt, the payroll tax...
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Dec 6, 2012
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and also how to get our fiscal house in order. michael linden is director for tax and budget policy at the center for american progress. peter, what's happening online? what are people -- >> we're talking about economy. big, big story that is breaking this morning. >> bill: uh-oh. >> apple computers is going to resume manufacturing in the united states. they have all of their products now being built in china and tim cooke, who replaced steve jobs and very rarely gave interviews, gave an interview to nbc he announced next year we'll do one of our existing mac lines in the united states. they're going to start creating some jobs here in america. >> bill: you know, that's a bfd. >> great news. >> seriously. >> bill: it is great news. we knew shortly before he died, steve jobs was at a very small dinner of high tech leaders with president obama in silicon valley and steve jobs says those jobs are never coming back, mr. president. stop talking about it. they ain't coming back. >> he was wrong apparently. >> bill: well, that was his po
and also how to get our fiscal house in order. michael linden is director for tax and budget policy at the center for american progress. peter, what's happening online? what are people -- >> we're talking about economy. big, big story that is breaking this morning. >> bill: uh-oh. >> apple computers is going to resume manufacturing in the united states. they have all of their products now being built in china and tim cooke, who replaced steve jobs and very rarely gave...
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Dec 11, 2012
12/12
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. >>> and president obama and house speaker boehner mum on fiscal cliff negotiations. and a sign that a deal could be near. >>> new world order, the economy growing at an enormous rate in china, and in a few years it will surpass the u.s. what it means, coming up. >>> dozens of homes damaged in the south, ripping off roofs and damaging trees. more to come. stamp watch, straight ahead. >>> lots to talk about this morning. the next two hours, we'll talk with steve israel. jeff sessions, sandy levin, rahm emanuel and businessman javier paolomarez, ed burns, frankie monday easy, and chuck leavell. "starting point" begins right now. welcome, everybody. "starting point" this morning, angry, united. bracing for protests in michigan as the state is poised to become the most unionized right to work state. as many as 10,000 unionized workers expected at the state capitol to voice their disapproval of the measure. some of them teachers, two detroit area school districts shut down for the day as hundreds of teachers plan to join the protest. president obama brought it up during a
. >>> and president obama and house speaker boehner mum on fiscal cliff negotiations. and a sign that a deal could be near. >>> new world order, the economy growing at an enormous rate in china, and in a few years it will surpass the u.s. what it means, coming up. >>> dozens of homes damaged in the south, ripping off roofs and damaging trees. more to come. stamp watch, straight ahead. >>> lots to talk about this morning. the next two hours, we'll talk with...
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Dec 7, 2012
12/12
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and the fiscal cliff. it's expected to get under way shortly, and we're bringing it to you live here on c-span2. [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] >> good morning, all. good morning. i'm john fox sullivan, i'm publisher at large of atlantic media company, we publish the atlantic, national journal, government executive, a new product, quartz, and we want to welcome you to this special event this morning. and i want to welcome our c-span audience which is tuning in. um, this is the 15th allstate/national journal heartland poll that we're going to be discussing this morning. since april of 2009, allstate and national journal and the atlantic have partnered in surveying the public opinion of a little bit oriented towards the mitt middle class -- middle class, but public at large. this was initiated by our friend ed reilly and ron brownstein of national journal and post the economic crisis, we decided to see what the american public perceptio
and the fiscal cliff. it's expected to get under way shortly, and we're bringing it to you live here on c-span2. [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] >> good morning, all. good morning. i'm john fox sullivan, i'm publisher at large of atlantic media company, we publish the atlantic, national journal, government executive, a new product, quartz, and we want to welcome you to this special event this morning. and i want to...